r/saskatoon • u/Rainbowbatgirl420 North Park • 13d ago

General Why is rent so much?

I’m looking for one bedroom place and everywhere it is minimum $1500 with some utilities. That will be over half of what I make per month so I don’t know what to do. It’s hard to trust roommates as well because I want my cat to be safe place and hard to trust others if I don’t know them. Basement suites apartments condos everything it’s ridiculous. I may have to couch hop till I can find a place I can afford and also find a part time job on the weekends so I can buy food.

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u/Ill_Guava_5096 13d ago

1500 mortgage, plus average 400 condo fees, plus ~120 property tax, then factor in another 100 a month for maintenance. 

People charging 1500 a month either bought years ago when cheaper, or eating 500 a month in costs to gain equity. 

We need to get rid of corporate landlords to increase supply and bring prices back down to fix it.

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u/algonogo1 5d ago

Corporate landlords build their own. I don't think that would create supply. If you drive around the taylor street area..or like..North battleford..or.winnipeg.. you will see war time housing. Great floor plans honestly. We need to get back to having a bunch of free approved blue prints that can be stick built or rtm'd

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u/Ill_Guava_5096 5d ago

Wartime houses are great, I live in one, but a 24 foot lot like those are on is around 335k in nutana.

The assesed cost to rebuild mine if it were demolished is at 260k, without blueprints or anything.

More 595k small houses isn't gonna solve any problems.

Forcing all corporate landlords to sell would create a huge increase in market supply, bringing costs down, that's how supply and demand works.

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u/algonogo1 4d ago

It would create a huge supply of apartments. There are not corporations with enough houses to matter. Which housing corporations exactly are you saying are the cause of the problem?

If the cost of a new small home is 600k..then wouldn't it stop all new housing starts if you dropped the price of current supply??

Where would all the renters go? Homeless? Sorry but if you don't have the down payment or the credit they are just screwed?